patrick.net

Peter P Says:

> Question: If Democrats are so good at “helping” poor
> people

The Democrats are not good at helping poor people, but they are good at making poor people “think” they want to help them and get their votes (Most Democrats care as much about poor people as Al “Gulfstream:” Gore and John “Five SUV” Kerry care about the environment) …

> how come their strongholds (Detroit, Oakland,
> DC) tend to be mega-crime-capitals?

As Malcolm Says: “The answer to Peter Ps question would be called racist” so I won’t actually answer it and just say that Detroit, Oakland and DC are mega-crime areas for the same reason that Darfur, Rwanda and Ethiopia are mega-crime areas…

I hope San Jose and surrounding environs are bracing for all those BEAllionaires.
Business software maker Oracle Corp. agreed Wednesday to buy BEA Systems Inc. for about $7.85 billion, a compromise price that ends a months-long dispute over the value of the company that pioneered Web services software.

In other sad news, housing porn 'aka shelter magazines' are the latest casualty of the downturn.

EBGuy,

I heard it was $8.5 bil?

Most Democrats care as much about poor people as Al “Gulfstream:” Gore and John “Five SUV” Kerry care about the environment.

Well, a Gulfstream is very fuel efficient compared to a private A380.

Five SUVs? It is bad only if he drives them all at once. :lol:

Shall we bet when they will stop talking about "global warming" and shift the focus to "ice age" again?

Peter P,

As predicted by this blog and it's readers back in late 2006, the war is already taking a back seat to "the economy".

As to Randy H's question yesterday, I think I have a possible answer:

When "I" get roll around naked in BIG FAT STACKS OF MEW CASH (it's an "economy"). When my teaser loan re-sets and I'm flat busted (it's a "Ponzi scheme")

Like it or not global warming is becoming a faint whisper. The only ones still ranting about GW are so far to the left they're now safe to ignore completely.

They were talking about a new ice age back in the 1970s, so the political-spot cycle appears to be around 30 years. Unlike the sun-spot cycle which is around 11 years.

In order to cut down on carbon emissions, I see there is a big push on now to tear down all the hydroelectric dams in the west.
http://www.nytimes.com/2008/01/16/us/16klamath.html

Like it or not global warming is becoming a faint whisper. The only ones still ranting about GW are so far to the left they’re now safe to ignore completely.

Good. I was getting worried about green fascism.

I love open space myself and I want to own a ranch with mountain view someday.

Can I install solar panels on your ranch Peter? I'll connect your house to my grid for free.

Can I install solar panels on your ranch Peter? I’ll connect your house to my grid for free.

LOL.

I think energy independence is a valid concern. I think solar energy will be cheap enough to compete in Californian markets.

I think it is not very viable in places with much fewer sunny days.

Peter P,

Your problem is that there are few nice ranch areas with mountain views that have good sushi restaurants nearby. Life is all about compromises.

I'd suggest a ranch around Melba ID, but what do I know.

Your problem is that there are few nice ranch areas with mountain views that have good sushi restaurants nearby. Life is all about compromises.

True. But there are trouts, right?

Melba abuts onto the Snake River. You might get lucky and get a ranch with riverfront property so you can just go out in the backyard and cast for trout, salmon, and bass.

Places like Jackson Hole and Sun Valley are sadly already taken by too many Hollywood millionaires.

We have a friend that lives off-grid in E. OR and even as a retired ME (mech. eng.) he struggles to maintain year round power. He has panels, batteries and recently installed a windmill generator and STILL barely has a decent recharge rate!

Then it comes up that their mother-in-law lives w/ them and demands the central a/c run 24/7 during the summer. Well... YEAH!

For colder climates they now have freezers that draw in cold ambient air and save a TON!

I needed some clarity on a recently passed bill in OR and got a call back from the economist/committee administrator and he said there was quite a bit of conversation about cap. gains exemption at the Federal level.

"Uh, uh.. they're aware of the abuses"

From your mouth to God's ears mister! :)

See what $500K gets you in Melba. http://www.melbavalley.com/ The snow capped mountains are the Owyhee Mountain range southwest of Boise.

What does $500K get you in Sili Valley anymore? Life is full of compromises. Idaho doesn't have the beach and surfing, nor the plentiful start-up environment of Sili Valley. But you can afford to live here and I'd wager that the downside on real estate here is much less than that in the BA.

Along with compromise, life is all about change. In my grandparents' time, Santa Clara county was paradise where you could live very well without undue effort. But that was 70 years ago.

Then it comes up that their mother-in-law lives w/ them and demands the central a/c run 24/7 during the summer. Well… YEAH!
Sounds like they need a geothermal heat pump!
Saw another E(squared) energy program on PBS a couple of days ago. It was about locally owned wind power in rural Minnesota (or was that Wisconsin?). Man those suckers are huge! Amazing how peoples attitudes about wind mills change... you mean I can put one of those up and generate a little extra on-farm income? They laughed at the first guy (took several years); now every one wants one. Wind mill manufacturer ended up opening a blade factor locally. The financing is convoluted as they have to bring in an equity partner to use up the tax credits for about ten years and then the equity reverts to the farmer. One windmill goes for a couple of million.

@DinOR, yes, it's $8.5 million (the earlier Reuters feed was incorrect). Another $650 million to drive up SillyCon Valley home prices!

EBGuy,

I'd read about that some years back and I believe the SW corner of MN has wind gusts consistent enough to make that feasible? So after 3 generations of farming "in" high winds the old timer IS farming high winds!

They had one of the Siemens propeller brake engage suddenly in the Columbia Gorge and it shattered the mast and killed one tech, seriously injuring the other. Still and all it was a pretty freak accident.

Yeah, I just glanced at the Reuters article early this morning, I wasn't knit-picking. Go Silly Valley!

EBGuy :

Did you hear what are the legislators in your back yard trying to do ? Heard this on KCBS today morning.

http://tinyurl.com/ypnknn

The six-month, voluntary moratorium on mortgage foreclosures approved by county supervisors would benefit the area’s entire economy and not just home owners, members of the board said Tuesday.

That will fix the foreclosure problem. I am glad they agreed to do this. Now if they can pass some measures to prohibit increases in Gas and food prices, that will go a long way as well. And while they are at it, install measures for minimum salary to be 150K across all fields.

Will the IRS tax FB's for the "income" which is the difference between the contract price on an ARM mortgage versus any moratorium-on-interest-rate increase price?

StuckInBA,

O.K...? I'm a sport! (Who's voluntarily doing.. what?)

Are the County Soups just saying they're not going to honor the process and demands of the lenders attorneys? I KNOW the FB's aren't volunteering to get current on their payments!

Oh and yes make that a fill w/ premium at 2005 prices please! :)

I think it was Ahhnold who perfected the voluntary moratorium, except he had better PR people. When 70% of the electorate is seeing their net worth evaporate (and in some cases, having their homes "reposessed" ), you had better look like you're doing something.

AP
Americans Pay for Housing Boom's Excess
Wednesday January 16, 4:37 pm ET
By Madlen Read and Joe Bel Bruno, AP Business Writers
U.S. Banks Seeing Higher Delinquencies on More Than Just Mortgage Payments

NEW YORK (AP) -- The bill for America's excessive borrowing during the housing boom has arrived, and more people are having trouble paying it.
JPMorgan Chase & Co. and Wells Fargo & Co., two of the nation's biggest banks, on Wednesday joined a growing chorus warning that the subprime mortgage mess is just the start of a sweeping lending crisis. And some fear that consumers falling behind on all kinds of loan payments could tip the economy's scale toward recession.

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Strapped consumers are having a tough time making payments on credit cards, home-equity loans, and even for their cars. This has caused three of the top five U.S. commercial banks that have already reported damaging fourth-quarter results to set aside some $12.5 billion to cover future loan losses -- and that number will likely grow as the year wears on.

Problems in the subprime mortgage market are rapidly spilling over into other areas of the economy. No matter what the experts call it -- a recession, slowdown or even the makings of a depression -- it's clear banks are under mounting pressure to be more cautious about lending.

"If consumption growth stagnates, the odds of a recession are incredibly high," said Andrew Bernard, director of the Center for International Business at the Tuck School of Business at Dartmouth. "All the pieces of household financial health are starting to be shakier, especially at the low end."

"I love open space"

Peter, just for a goof check out Modoc County, CA and even the Sprague River area in Southern OR. I've spent some time there and while not as trendy as some areas (it's definitely affordable!) Still a lot of property w/ views and great fishing for $500 an acre.

*Bring 4WD

I thought Wall Street was where all the mega crime originated. Its easy to stay out of dc, oakland,etc - rotsa ruck hiding from Wall Streeters - they got looong arms.

Its easy to stay out of dc, oakland,etc - rotsa ruck hiding from Wall Streeters - they got looong arms.

It is also not hard to stay out of Enron/WorldCom-type crimes. Just use common sense and don't be greedy.

It is also not hard to stay out of Enron/WorldCom-type crimes. Just use common sense and don’t be greedy.

Circuit City (CC) has gone down from $22 to about $3.50 in less than a year. Would buying that now be opportunity or greed?

Good Lord. That is one ugly chart. I don't follow these guys, what went wrong?

What happened to Circuit City? Best Buy and Walmart.

Circuit City may be a buyout target (think Sears/Kmart, stock went from $15 to well over $100) or or CC could just plain die. Or maybe recover.

DinOR Says:
January 16th, 2008 at 12:11 pm
"Then it comes up that their mother-in-law lives w/ them and demands the central a/c run 24/7 during the summer."

Any future administration who tries to tackle energy issues will have to specifically address mother in laws.

The consumer is to blame - for Circuit City. Primarily. Stores that manage their efficiency better will not do as bad. Note that both WMT and BBY stocks have done a whole lot of nothing in last year. Sears, Macy's are all at 52 week lows. But CC is hurting even more as inventory of unsold electronic items depreciate really really fast.

I like CC stores better than best buy. But of course Fry's is the best.

HelloKitty Says:
January 16th, 2008 at 1:56 pm
"I thought Wall Street was where all the mega crime originated. Its easy to stay out of dc, oakland,etc - rotsa ruck hiding from Wall Streeters - they got looong arms."

Nice one, as usual someone here thinks outside the 4 equal sided shape with right angles. It all depends on whose definition of 'crime' you use. Awesome!

Still baffled, can someone explain to me why a law is needed for something that is voluntary?

Still baffled, can someone explain to me why a law is needed for something that is voluntary?

Because some people think there is a need to "do something" even though they knew nothing could be done.

It is man's natural reaction to impotency.

So it's legislative Viagra?

Something like that.

From the article:
The six-month, voluntary moratorium on mortgage foreclosures approved by county supervisors would benefit the area’s entire economy and not just home owners, members of the board said Tuesday.
The supervisors adopted the measure calling on lenders to limit foreclosures...

It appears the soups passed a resolution to ask lenders to limit forclosures for 6 months. I guess "voluntary" is newspeak for "beg."

So it’s legislative Viagra?

Nope. At least Viagra gives an impotent the ability to plant. That resolution is still limp. More like Tom Jones who is rumored to put a rolled up sock in his pants before he goes on stage.

Ex-Brocade Chief Gets 21-Month Term for Backdating (Update3)

By Karen Gullo

Jan. 16 (Bloomberg) -- Former Brocade Communications Systems Inc. Chief Executive Officer Gregory Reyes, the first CEO convicted by a jury for stock options manipulation, was sentenced to 21 months in prison and ordered to pay a $15 million fine.

The sentence today by U.S. District Judge Charles Breyer in San Francisco was less than the 24-to-30 month term he said was the maximum allowed and the 33-month term prosecutors sought. Breyer said Reyes deserved more than sentences given executives who pleaded guilty to backdating and less than the maximum because he was a ``good and decent'' man who gave to charities.

The case was about ``the failure of a CEO of a publicly traded company to honestly disclose financial information,'' Breyer said. ``It is about lying to his company.''

============

I want more Silly Con Valley CEOs behind bars ....

The case was about “the failure of a CEO of a publicly traded company to honestly disclose financial information,” Breyer said. “It is about lying to his company.”

Caveat emptor. The stock market is a game of pure psychology. Trying to enforce discipline will not add rationality to the market.